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Friday, May 5, 2006

Biogen Idec Buys Conforma Therapeutics

San Diego-based Conforma Therapeutics has been acquired by Biogen Idec for $150M in cash plus up to $100M in earn out. Biogen Idec said yesterday that it acquired Conforma, which is focused on the discovery and development of drugs for the treatment of cancer, to broaden the company's therapeutic opportunities in the cancer field. The transaction is expected toc lose in the second quarter. Conforma's operations and employees will be integrated into Biogen Idec's existing San Diego campus. Conforma is backed by Domain Associates, Forward Ventures, Inglewood Ventures, Lilly Bioventures, Novo A/S, Proquest Investments, RBC Capital Partners, RiverVest Venture Partners, and S.R. One Limited. More information »